In the new technological age, authenticating transactions, determining authorization of the customers and/or the merchants involved in the transactions and determining validity of transactions, while maintaining the security of personal and financial information is an important concern. As a result, several business industries, such as financial institutions, have taken precautionary measures to ensure the safety and protection of their customers' financial information. A recent development is tokenization of accounts, whereby one or more secure tokens or payment credentials are assigned to an account and represent the account in transactions. These transactions may be authenticated and/or validated based on, at least in part, determined locations of the customers relative to the locations of the transactions, as disclosed in the present invention. In this regard, perpetual monitoring of the customers' locations may not be feasible both due to the myriad of transactions and the necessity to preserve the security of personal information of customers. Therefore, there is a need for systems directed to non-intrusive location determination for authentication and/or authorization of transactions that preclude any inadvertent privacy concerns.
The previous discussion of the background to the invention is provided for illustrative purposes only and is not an acknowledgement or admission that any of the material referred to is or was part of the common general knowledge as at the priority date of the application.